Jim Cramer Likes Regeneron Stock, But Don't Buy it Today

Author:
Publish date:
Video Duration:
2:25

Regeneron could soon receive Emergency Use Authority from the Food & Drug Administration after its coronavirus treatment was given to President Donald Trump.

Trump's doctors said over the weekend that he received an infusion of Regeneron's dual antibody treatment for COVID-19, which is currently being studied for its use in early infections but has not yet been approved by the FDA for broader use, after testing positive for the virus on Thursday.

The drug, known as REGN-COV2, is undergoing a jointly run trial with the National Institute of Allergy and Infectious Diseases, of 2,000 people, as well as a separate study of 2,900 coronavirus patients who are in hospitals and ambulatory settings. 

The President's infusion, however, suggests the double-cocktail could be granted Emergency Use Authorization (EUA) from the FDA in the coming weeks.

And Regeneron's chief scientific officer told MSNBC Monday morning that Regeneron had reached out to former vice president Joe Biden's campaign to offer them the antibody cocktail.

Regeneron, in an email to TheStreet said, "We’ve been in touch with the Biden campaign just to make them aware of the compassionate use mechanism, should they need to apply."

It's no secret that Jim Cramer likes the stock, but he said buying it today "idiotic." Find out why in the video above. 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

Latest Videos From TheStreet and Jim Cramer: